A Republican lawmaker is urging scrutiny of two Chinese Bitcoin mining hardware makers, citing potential national security risks. According to Bloomberg’s Anthony Cormier, Jake Bleiberg, and David Kocieniewski, Representative Zachary Nunn of Iowa asked Treasury Secretary Scott Bessent to review Beijing-based Bitmain Technologies Ltd. and Cango Inc., a potential Bitmain acquisition target. Nunn warned that the firms “appear to be scaling operations in the U.S. through complex ownership structures and financing arrangements that may not be fully transparent.” Bitmain, which supplies 82% of global mining machines, denied acquisition rumors and said suggestions that its equipment could undermine U.S. infrastructure “frankly makes no sense.” The request comes as U.S. regulators weigh how to secure domestic energy and digital asset infrastructure. Analysts expect CFIUS reviews to shape future policy as America deepens its reliance on Bitcoin mining hardware.
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Protos reports that “Ordinals Scrapyard” lets Bitcoin Ordinals holders crystallize losses by selling inscriptions for 1 sat (~$0.001) plus fees, echoing ET Brutus’s $1 write-off service for failed securities. The site arrives as most inscriptions’ floors have collapsed to $0.001 after early-2023 hype around Casey Rodarmor’s Bitcoin-native NFT protocol; many assets previously had no bids. Ordinals index sats via the off-chain ORD ledger, enabling collectibles tied to specific satoshis. Protos Staff notes gallows humor: “I thought this was a joke but ordinal gamblers are really down that bad huh,” and developer Peter Todd called the site hilarious. The tool could potentially spur tax-loss harvesting on bitcoin, influence year-end selling patterns, and pressure marketplaces to improve liquidity and provenance. It also spotlights Bitcoin’s resilience: speculation is wrung out while base-layer security and settlement continue, potentially resetting developer focus.
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The Rage’s L0la L33tz reports that the Senate Banking Committee has advanced a new draft of the Responsible Financial Innovation Act of 2025, significantly expanding protections for developers of non-custodial digital asset software. The proposal retroactively amends Section 1960 of U.S. Code to require “control” as a condition for money transmission liability, addressing concerns raised during the Tornado Cash trial of Roman Storm, where Judge Failla declined to read such a requirement into law. The draft exempts non-custodial developers from both Section 1960 liability and the Bank Secrecy Act, going further than the earlier Blockchain Regulatory Certainty Act. Over 100 industry signatories had warned they would not support market reforms without developer protections. A Senate vote is expected by year’s end, though Democrats are pressing for stronger accountability from intermediaries, particularly in DeFi. The outcome could reshape digital asset regulation, balancing innovation with enforcement.
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On the Electronic Frontier Foundation’s podcast “How to Fix the Internet,” hosts Cindy Cohn and Jason Kelly interview Internet Archive founder Brewster Kahle about building public-interest infrastructure for knowledge access. Kahle argues that libraries and open protocols underpin a healthier web, crediting “public AI,” open-source software, and distributed systems to surface obscure archives and bolster Wikipedia. He recalls resisting Patriot Act national security letters with EFF, and spotlights projects from 24/7 TV news archiving to Democracy’s Library. His ambition is to “build the library of everything” and deliver “universal access to all human knowledge.” Kahle urges regional archives, peer-to-peer backends, and nonprofit models that outlast corporate cycles, positioning public AI to make digitized material conversationally usable. The interview arrives amid trust and antitrust pressures, an optimistic case that resilient, open institutions can still fix the internet for everyone online.
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